SolarEdge Technologies (NASDAQ:SEDG) Stock Price Down 5.3% – What’s Next?

SolarEdge Technologies, Inc. (NASDAQ:SEDG) dropped 5.3% on Tuesday . The company traded as low as $13.33 and last traded at $13.38. Approximately 1,912,046 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 4,378,192 shares. The stock had previously closed at $14.13.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SEDG shares. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. Canaccord Genuity Group lifted their target price on SolarEdge Technologies from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. Susquehanna cut their price target on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets cut their target price on shares of SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price target on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Eight research analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and an average target price of $20.84.

SolarEdge Technologies Stock Performance

The stock’s 50 day moving average is $14.18 and its two-hundred day moving average is $18.52. The stock has a market capitalization of $771.31 million, a price-to-earnings ratio of -0.46 and a beta of 1.56. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The business had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. During the same period in the prior year, the firm earned ($1.03) EPS. The business’s revenue for the quarter was down 64.0% compared to the same quarter last year. Analysts expect that SolarEdge Technologies, Inc. will post -23.2 earnings per share for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery bought 156,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the acquisition, the chairman now owns 244,478 shares of the company’s stock, valued at approximately $3,337,124.70. The trade was a 176.32 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. KBC Group NV grew its stake in shares of SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 1,378 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in shares of SolarEdge Technologies by 251.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 2,770 shares during the period. R Squared Ltd bought a new stake in shares of SolarEdge Technologies in the 4th quarter valued at about $61,000. GAMMA Investing LLC grew its holdings in SolarEdge Technologies by 655.2% during the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 4,567 shares during the period. Finally, US Bancorp DE increased its position in SolarEdge Technologies by 243.6% during the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after buying an additional 4,834 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.